Mortgage rates moved higher Wednesday up congressional leaders voted to avoid the “Fiscal Cliff”. Mortgage-backed securities (MBS) fell as investors bid up stock prices. Confidence among investors and consumers typically causes mortgage rates to rise. That’s what happened Wednesday. For Thursday and Friday, expect jobs data to dictate where Scottsdale mortgage rates are headed. The […]
Mortgage bonds worsened last week, moving mortgage rates higher.
Mortgage bonds worsened last week as Fiscal Cliff talks moved closer to resolution and as the U.S. economy showed continued signs of growth.
This week, there is little on the U.S. economic calendar, save for Friday’s Non-Farm Payrolls report. Wall Street is expecting to see 80,000 net new jobs created in November, and a rise in the national Unemployment Rate to 8.0%.
Pricing for both conforming and FHA mortgage rates improved between Monday and Friday, with the majority of gains occurring late in the week.
Mortgage markets worsened last week, taking mortgage rates higher. The Federal Open Market Committee meets this week.
Mortgage markets improved slightly last week. With a dearth of new U.S. economic data due for release, investors turned their collective attention to the Europe, China, and the Middle East. U.S. mortgage rates fell slightly in the holiday-shortened week.
Mortgage markets worsened last week for the first time in a month last week.
For the third straight week, mortgage rates improved. This week’s jobs report threatens those gains, however.
Mortgage markets improved for the second consecutive week last week as demand for U.S. mortgage-backed bonds remained high.